Has the global outlook for India changed because if I map how foreign institutional investors have behaved in last 10 days for the first time this calendar year they have turned net sellers and global investors they have been net sellers of about 25000 crore in just four days?

If you look at last couple of weeks almost most of the macro economic parameters which suggest growth are actually at multiyear lows and the ones which suggest weakness in the Indian economy are at multi year highs. Trade account deficit it is at a four year high, rupee is at an all time low, car sales are at 10 year low. But, the quarterly results suggest a top line growth. But, if you look at the top 2000 companies, profits are down 35%.

2 days of winter session of Parliament has yielded nothing, paralysis of economy is sweeping across and is finally forcing investors to sell. We have seen the market correct 700-800 points in two-three weeks. So I was broadly looking at 4400-4600 as a level and we are getting there. So, though there is a lot of bad news at these levels we would look to again actually look to accumulate and buy stock slowly.